GenScript Biotech Joins the United Nations Global Compact to Advance Global Sustainability Efforts

December 4, 2023

GenScript Biotech Corporation (hereafter referred to as GenScript Biotech), the world's leading technology and service provider of life science R&D and manufacture, has recently been approved by the United Nations Global Compact (UNGC) Office, marking its official entry as a member of the UNGC. This marks a significant step for GenScript Biotech in its commitment to sustainable development and represents a notable accomplishment in the realm of environmental, social, and governance (ESG).

The UNGC is the world's largest initiative to encourage corporate sustainability, having pioneered the concept of ESG. With participants comprising near 24,000 businesses and stakeholders from nearly 170 countries, the UNGC encourages adherence to a set of ten principles that focus on human rights, labor, environment, and anti-corruption. Members are required to report their progress annually. The UNGC plays a crucial role in aiding enterprises to embed these ten principles into their core strategies and operations, fostering cooperation and partnerships to further the broader objectives of the UN.

Global sustainability is a key strategic priority for GenScript Biotech. Its proactive participation in the UNGC underscores its commitment to corporate social responsibility and sustainable development. This move also aligns with GenScript Biotech's goals to broaden its global presence and enhance its international brand standing. Over the course of 21 years, GenScript Biotech's business operations have spanned over 100 countries and regions worldwide with legal entities located in the US, Mainland China, Hong Kong (China), Japan, Singapore, Netherlands, Ireland, the United Kingdom, Korea, and Belgium. GenScript Biotech provides premium, convenient, and reliable services and products for over 200,000 customers. As of June 30, 2023, GenScript Biotech's global team has grown to over 6,400 employees across nearly 20 countries, each contributing to the company's sustained global development.

ESG management capabilities becomes an essential part of a company's comprehensive competitiveness. Particularly for publicly traded pharmaceutical companies, robust ESG practices are key to mitigating ESG-related risks and securing wider market recognition in the global arena. GenScript Biotech's robust operational health, outstanding ESG management, and sustainable development efforts have earned it a spot on the "Top 20 Chinese Pharmaceutical Listed Companies in ESG Competitiveness in 2023." This recognition underscores GenScript Biotech's dedication to superior corporate governance, transparency in business disclosures, and its continued positive development trend in the pharmaceutical industry underscored by enduring competitive strength.

Embracing green and sustainable development principles is crucial for achieving high-quality growth in business. GenScript Biotech consistently advocates for sustainable development practices and is committed to collaborating with fellow UNGC members to enhance its R&D and innovation capabilities. GenScript Biotech is dedicated to exploring and adopting environmentally sustainable business models, actively contributing to the advancement of global sustainable development efforts.